ECONOMICS REFERENCES COMMITTEE—REFERENCE

Senator Cormann, also on behalf of Senators Bushby and Williams, pursuant to notice of motion not objected to as a formal motion, moved business of the Senate notice of motion no. 2—That the following matter be referred to the Economics References Committee for inquiry and report by 31 October 2012:

An examination of recent developments in the banking sector arising out of the impact of the global financial crisis and subsequent events, including:

(a) the impact of international regulatory changes on the Australian banking sector, particularly including changes to liquidity and capital holding requirements;

(b) the impact on relative shares of specific banking markets;

(c) the current cost of funds for lending purposes;

(d) the impact on borrowing and lending practices in the banking sector both during and since the global financial crisis;

(e) the need for further consideration of the state of the broader finance and banking sector; and